Module ECON47715: Microeconometrics

Department: Economics and Finance

ECON47715: Microeconometrics

Prerequisites

• None

Corequisites

• Econometrics I (ECON41515)

Excluded Combination of Modules

• Financial Modelling and Business Forecasting (ECON42115)

Aims

• to build upon the knowledge gained in Econometrics I and provide students with the specific advanced technical skills (both theoretical and practical) necessary to understand the methods employed by micro econometricians;
• to provide students with the tools required to conduct policy evaluation using microeconomic cross section and panel datasets.

Content

• Static and dynamic models for panel data: random-effects approach, fixed-effects approach
• Limited dependent variable models: discrete response, censored regression, sample selection
• Treatment effect models: regression-based methods, alternative methods (e.g. matching)

Learning Outcomes

• have an advanced knowledge of the principles and methods of modern microeconometrics;
• have extended and deepened their understanding of econometrics gained in Econometrics I, and improved their critical judgement and discrimination in the choice of techniques applicable to complex situations;
• have extended their understanding of the application of econometric methods and interpretation of the results at an advanced level;
• have extended their understanding of the use of econometric tools to conduct advanced empirical investigations into complex specialised issues.

• have further practised problem-solving skills in econometrics at an advanced level and the use of econometric software.

• Written Communication;
• Planning, Organising and Time Management;
• Problem Solving and Analysis;
• Using Initiative;
• Numeracy;
• Computer Literacy.

Modes of Teaching, Learning and Assessment and how these contribute to the learning outcomes of the module

• A combination of lectures, seminars, computer classes and guided reading will contribute to achieving the aims and learning outcomes of this module. Fortnightly seminars will discuss applications of the econometric techniques and fortnightly computer classes will introduce students to implementation of the methods in statistical software package(s), using micro data. The summative assignment will involve students writing an empirical report using techniques covered in the module, applied to micro data. This will test students' knowledge and critical understanding of the material covered in the module, their analytical and problem-solving skills.

Teaching Methods and Learning Hours

Summative Assessment

Formative Assessment:

Students prepare answers to questions in advance of seminars, these are discussed during the seminar with feedback given by the lecturer. 'Indicative answers' are also presented during the seminar and posted on DUO. Feedback on discussions is available with teaching staff during consultation hours, or via e-mail.

■ Attendance at all activities marked with this symbol will be monitored. Students who fail to attend these activities, or to complete the summative or formative assessment specified above, will be subject to the procedures defined in the University's General Regulation V, and may be required to leave the University